Unemployment rises to 2.261 million

This is the highest since July 1997- some 12 years ago.

The ‘good news’ is that the rise in May- was less than expected but unemployment for 16-24 year olds is nearly 17% which is quite damning and could get worse.

I think that whilst businesses have been quick to lose staff – some will have held on to the summer hoping ‘ things’ will get better – and once September is here and things dont look much better there may be another round of cuts.

There remains no sign of lenders providing development finance and so building work will remain subdued; Finance sector will continue to cut jobs and I suspect most retail and wholesale businesses will not add permanent new jobs generally;

I wonder how many part time staff who worked at the local pub- now closed- and being turned into a flat/indian restaurant will be able to find a replacement job quickly.